The wool market ended lower at the auction and the Cape Wools Merino Indicator decreased by 1,7% and 342 points to close at a value of R202,42 for clean wool. The Australian EMI lost 0,2% this week.
This week saw the rand 1,4% stronger against the American dollar and 0,8% stronger against the Euro, compared with the average rate at the previous sale.
The market weakened by 0,3% in US dollar terms. The wool market held up considerably well, considering the continued difficult trading environment, with the market shedding 1,7% from the previous sale and a sales clearance of 86,4%.
Long, good quality merino fleeces held their price levels with medium and long wool once again experiencing downward pressure of up to 7%.
The offering also consisted of a large volume of medium length wool. The major buyers on the sale were: G Modiano SA, Standard Wool SA, Tianyu SA and Lempriere SA.
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows:
- 18 microns decreased by 2,8% to close at R228,09/kg
- 18,5 microns moved 0,2% down to close at R224,97/kg
- 19 microns lost 0,6% to close at R220,95/kg
- 19,5 microns weakened by 0,2% to close at R217,80/kg
- 20 microns was 0,7% weaker to close at R214,88/kg
- 20,5 microns won 1,6% to close at R215,42/kg
- 21 microns recovered 0,6% to close at R213,07/kg
- 21,5 microns improved by 1,0% to close at R212,13/kg
- 22 microns rose 0,4% to close at 208,12/kg
- 22,5 microns declined by 2,3% to close at R199,79/kg
The next sale is scheduled for 9 May – Press release